North America to Retain Dominance in Terms of Revenue
On the basis of region, the global microbiology culture market is segmented into Asia Pacific, Europe, North America, Latin America, the Middle East, and the Rest of the World. North America emerged as the leading regional market in 2014 with a revenue of US$1.6 bn. The presence of a large pool of biopharmaceutical firms and research institutes played a significant role in driving the market for microbiology culture in North America.
Analysts expect this region to retain its lead over the forecast period. However, Asia Pacific is likely to present the most promising opportunities and register the fastest CAGR of 6.80% from 2015 to 2023. The unmet medical needs of people, coupled with the growing prevalence of infectious diseases, the surge in the healthcare expenditure, the rising focus on food safety, and the increasing demand for antibiotics, are likely to provide an opportunity-rich market for participants in the near future.
Browse the full Microbiology Culture Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023 report at http://www.transparencymarketresearch.com/microbiology-culture-market.html
The market overview section of the report explores market dynamics such as drivers, restraints, and opportunities that have strong impact on the current microbiology culture market and are likely to influence the market in the future as well. Market attractiveness analysis has been provided in the market overview section to explain the intensity of competition in the market in different geographies. Porter’s Five Forces Analysis is also provided in this section to understand the microbiology culture market considering different parameters that have an impact on the sustainability of the companies operating in the microbiology culture market. The competitive scenario between different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help the market players to take strategic decisions in order to strengthen their positions and expand their market share in the global market.
The report also profiles major players in the microbiology culture market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include Becton, Dickinson and Company, bioMérieux S.A., Bio-Rad Laboratories, Inc., Eiken Chemical Co, Ltd., EMD (Merck) Millipore, Hi-Media Laboratories Pvt. Ltd., Neogen Corporation, Sigma-Aldrich Co. LLC, Scharlab S.L., and Thermo Fisher Scientific, Inc.
Asia Pacific to Exhibit Fastest Growth Rate
On account of the increased funding by several governments in the field of microbiology, North America and Europe has acquired the first two positions in the global microbiology culture market. In 2014, North America topped the list with a share of 35.4%, whereas Europe closely followed with 32.0%. Analysts expect North America to remain the key regional market; however, Asia Pacific is likely to report the growth at the fastest cumulative average rate of 6.80% between 2015 and 2023.
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Bacterial culture headed the global market in 2014 and is expected to continue to lead in the near future. Complex media is likely to remain the most preferred culture media over the next few years.
On the whole, the opportunity in the global market for microbial culture is likely to rise at a CAGR of 5.90% between 2015 and 2023, increasing from US$4.5 bn in 2014 to an estimated value of US$7.6 bn by the end of the forecast period.
The analysis presented here is based on a report by Transparency Market Research (TMR) titled “Microbiology Culture Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”
The top three players held a market share of 52.7% in 2014
North America led the global market with a share of 35.4% in 2014
The opportunity for microbiology culture at the global level is likely to reach US$7.6 bn by 2023
Key Segments of the Global Microbiology Culture Market
- By Culture Type
- Bacterial Culture
- Eukaryotic Culture
By Media Type
- Simple Media
- Complex Media
- Synthetic Media
- Special Media
- North America
- Asia Pacific
- Latin America
- Middle East
- Rest of the World
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